Betfair

[teddybreak]

Hi all. Betfair had to close their operations due to the new rules put in by the government. That's a shame of course, but that's out of their hands.

I had several pending (long term) bets when they closed my account and was advised to cash them out after I asked them what to do with pending bets. However two of them did not offer the cash out-option and I asked what do to with these. I was advised to leave them open and contact them once they were decided.

So I did. But now I am told I only get my stake back. Since I invested some money to level out my winnings on one of the two bets (which ended up a winner on Betfair) I'm not only missing out on these winnings, but I have also lost the extra money I spent to level out the winnings if the bet on Betfair would have lost.

I spoke with a (rather rude) customer support agent which didn't result in anything (other then Betfair transferring only my original stake to my bank account).

To add to that: The second pending bet I had left was a long term bet for the Formula 1 season (Sergio Perez to beat Charles Leclerc over the course of the season). The customer service agent said that bet was still active, while the F1 season ended on December 12.

After telling me that and me saying the season ended on December 12 he closed the conversation, saying 'we are going in circles'

I have transcripts of customer service confirming that I could leave these long term bets running until they were decided and on top of that there is the F1-bet that is decided almost a month ago but not according to Betfair.

What to do now?

[Alfie White]

The smartest option would be to escalate the situation (https://support.betfair.com/app/answ...id/6158/c/468/ 2nd part of the page) and explain everything in nice manner as you did here. It seems you are well spoken so you would be able to transcribe the situation in much detail for them.

In all honesty, I would think that after such "complaint" you would be able to retrieve all funds associated with your account, but please do keep your cool and remain patient during the process.

If that fails, you can file formal complaint to UKGC and they would surely be forced to pay you out.

Again, be patient and polite. Fingers crossed for you.

PS
Out of curiosity, which jurisdiction you reside in?

[Optional]

+1 what Alfie said.

[teddybreak]

The smartest option would be to escalate the situation (https://support.betfair.com/app/answ...id/6158/c/468/ 2nd part of the page) and explain everything in nice manner as you did here. It seems you are well spoken so you would be able to transcribe the situation in much detail for them.

In all honesty, I would think that after such "complaint" you would be able to retrieve all funds associated with your account, but please do keep your cool and remain patient during the process.

If that fails, you can file formal complaint to UKGC and they would surely be forced to pay you out.

Again, be patient and polite. Fingers crossed for you.

PS
Out of curiosity, which jurisdiction you reside in?

Thanks, will give this a try (once I get through )

Sorry, none of our agents are available to answer your query right now, please try again laterYou can also check out help centre for more information


I'm living in The Netherlands by the way.

[teddybreak]

I have been in contact with the management and that representitive has escalated it to their trading team. I'm not expecting much from it, since I think the decision to not let these bets run has come from the same trading team. But let's see what they will decide...

[teddybreak]

Hi teddybreak,

I trust this email finds you well.

We have received your request to review bet IDs: (...) & (...). Following escalation to our trading team they confirmed that since we no longer operated within the Netherlands, all bets had to be voided, which was carried out for both of these bets.

Hope this clarifies the situation and apologies for any inconveniences.

This is their reply. Is there anything I can do now?

[Krashman]

Betfair had to close their operations due to the new rules put in by the government.

Betfair is closed?

[Foxx]

Betfair is closed?

Just Netherlands a few months ago.

[teddybreak]

Is there a chance I would get anything out of a complaint with the UKGC as suggested? I mean, if they by regulations had to void those bets I don't think the UKGC will rule against that.

The only thing that would speak for me is that I was repeatedly told those outstanding bets would be honoured and paid out once decided.

[Optional]

Is there a chance I would get anything out of a complaint with the UKGC as suggested? I mean, if they by regulations had to void those bets I don't think the UKGC will rule against that.

The only thing that would speak for me is that I was repeatedly told those outstanding bets would be honoured and paid out once decided.

I think you will be successful being paid for your F1 bet just by using the escalation bot portal at Betfair.

And based on what you have said, I'd also think IBAS would find for you on that one if it went that far.

But do the escalation bot at Betfair first and see what they say before deciding if their reason is valid.

[teddybreak]

I think you will be successful being paid for your F1 bet just by using the escalation bot portal at Betfair.

And based on what you have said, I'd also think IBAS would find for you on that one if it went that far.

But do the escalation bot at Betfair first and see what they say before deciding if their reason is valid.

The F1-bet should be no problem I think.

However I dont think I will get anything more than the stake I put on, an organisation like IBAS is not going to tell Betfair to pay out the actual winnings on the grounds of customer service agents said I would get the winnings paid out. Or will they?

So winnings will be lost and the cover for one of the two bets on top of that

[Optional]

The F1-bet should be no problem I think.

However I dont think I will get anything more than the stake I put on, an organisation like IBAS is not going to tell Betfair to pay out the actual winnings on the grounds of customer service agents said I would get the winnings paid out. Or will they?

So winnings will be lost and the cover for one of the two bets on top of that

From what you have said I am struggling to see any justifiable reason not to pay it.

Have I missed something? Wasn't it decided before the closure date for your country?

[Optional]

I just read your first post again.

And think that IF Betfair are able to pay you your bet stake back, but only after they see if it loses, then the CS agent is describing a blatant free-roll.

I don't think you need to worry too much about what CS said. Betfair left your bet open until it was decided. And they say they can physically/legally pay you out the stake money, which means they have zero legal reason that they can't pay the winnings.

Seems like a slam dunk to me if you are forced to take it to IBAS. But I think the more level headed people in escalations will understand the situation and pay you.

[teddybreak]

This is the conversation on September 29 (Betfair closed for The Netherlands on October 1), I only edited my name out:

You at 20:33, Sep 29:I have sent an email but I did not get a reply yet

Info at 20:33, Sep 29:You are now connected to Betfair.Betfair at 20:33, Sep 29:You will now be transferred to a customer service agent who can help.
Betfair at 20:33, Sep 29:Please be aware it may take a moment or two for our agents to get back to you
Info at 20:33, Sep 29:This is Aaron and I will be looking after your query today. I will aim to reply within 2 minutes.
Aaron at 20:33, Sep 29:Good evening (teddybreak), hope you are well. Sorry to hear of that. What was the e-mail regarding to please?
You at 20:34, Sep 29:As a resident of The Netherlands I am asked to withdraw my funds before 30-9 (tomorrow).
You at 20:34, Sep 29:I am doing that, but I have a few questions.
You at 20:35, Sep 29:First of all I am asked to cash out any pending bets
You at 20:36, Sep 29:I have six pending bets at Betfair Sportsbook, but only four of these six bets actually offer a cash-out
You at 20:36, Sep 29and rather poor cash-out offers as well, since these bets are in a winning position)

Aaron at 20:37, Sep 29:Sorry to hear of that, so this is the best way to communicate with us in regards to this.In this situation, make sure to finalize your transactions before midnight just in case.In regards to cash out, I would cash out what you can, and then contact us again when those which couldn't be cashed out have been settled. We'll figure out a way to get any winnings to you.

You at 20:38, Sep 29:Okay
You at 20:38, Sep 29oes it matter if that takes a few months (the bets are long-term bets)?
You at 20:39, Sep 29:And can I choose to let the bets that can be cashed out run until the result is known?

Aaron at 20:41, Sep 29:You can, that being said as of right now, there is no gurantee the winnings can be returned I'm afraid. Sorry about that

You at 20:42, Sep 29:But for the two bets that cannot be cashed out now I am guaranteed to be paid out if these bets are won?
Aaron at 20:44, Sep 29:Indeed as that is not an issue coming from your end why the bets cannot be cashed out.

You at 20:45, Sep 29:All right, and how can I contact you at that time? Since I will lose access to my Betfair account from tomorrow?

Aaron at 20:46, Sep 29:You should be able to contact us through the "Help" page. Just make sure you click on "Account help" as you wouldn't be signed in.If that fails, I would check Twitter or Facebook

You at 20:47, Sep 29:All right, that should be fine then.
You at 20:47, Sep 29:Final question:
You at 20:48, Sep 29: Do you happen to know if Betfair is looking to obtain a license to operate in The Netherlands (in other words: any chance Betfair will become available in The Netherlands in the near future)?
Aaron at 20:50, Sep 29:I wouldn't know I'm afraid, these things would usully be kept secret. That being said, it might in the future
You at 20:50, Sep 29:I hope so
You at 20:51, Sep 29:Just to be sure, can you check which two bets will be left pending after my account gets 'closed'?

Aaron at 20:51, Sep 29:I wouldn't know on which bets the cash out is available I'm afaid. 😳
Aaron at 20:52, Sep 29:Sorry (teddybreak)

You at 20:52, Sep 29:I'll take screenshots then
You at 20:52, Sep 29:Hopefully that will do...

Aaron at 20:55, Sep 29:It would The important thing really is the Bet ID (O/111111/11111)Best of luck with your bets and remember we are only one click away if you require any assistanceYou might get a very quick survey when you leave this chat. I would really appreciate if you could take a few seconds to submit a score on whether you were happy with my help today. Thanks again and have a nice day and stay safe

You at 20:55, Sep 29:Thanks for your help and have a nice day!
Conversation closed by the agent at 20:55, Sep 29:Survey at 20:55, Sep 29:

[teddybreak]

These were the bets cash-out wasn't available for. So far they have only paid out the €400 stake of the bottom bet.